President Collin Cox says the executive committee believes it's the best action. The measure would also establish a Baylor Alumni Advisory Board.

Waco banker and former alumni association president Bill Nesbitt opposes the plan. Nesbitt says the association has been an independent and sometimes critical voice on affairs of the school in Waco.

Baylor's spring enrollment topped 15,000 students.

Editor's note: A previous version of this story, from the Associated Press, stated the Baylor Alumni Association had a membership of 165,000. Officials with the school contacted NBC 5 Wednesday afternoon to say the actual number is 15,000. We regret the error.